I don't know how big the changes between the 2023 and 2024 editions have been so I don't know if this is something that is within scope or if it is something that would be better off as a full rework however these are a bunch of changes that based on the steam reviews and my own experience should be implemented with the next huge update.
Drop the Xbox 1, this is controversial (but I can imagine not the most controversial take on this list) the Xbox 1 was released 11 years ago, based on the release cycle of Microsoft consoles if they are going to make a new version it is very likely that it will be announced in the next two years, so it's time to drop last gen, this should in theory improve server performance and allow more features that might not have been available due to the older hardware of the Xbox 1.
safer seas improvements (this one is the one that's going to get the most hate) make it so that the only things locked in safer seas are Athenas and reapers as from my knowledge reapers are fully pvp and Athenas is essentially the rivals to the reapers, also having it so that other crews are in the same server as you allows for the game to feel more alive and again saves server space because a new server isn't being fired up for every safer seas player, with this you can also have a form of PvP where the crew of the ship can vote if they want to fight another ship or not (possibly adding a flag "looking for a fight" where you get to challenge others) this can also lead to safer seas players being able to experience certain easter eggs, adding in sovereigns and captained ships as well would actually give a reason to allow for trinket unlocks in safer (there's a whole list of reasons why people would want this)
an alternative if captained ships dont get added to safer at least add the option to have trinkets on the ships as you can earn them in safer but cant display them.